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Pioneer Multi-Asset Ultrashort Income Fund
mutual fund
MAUKX
Payout Change
Pending
Price as of:
$9.68
+0.0
+0.0%
primary theme
U.S. Ultrashort Bond Duration
share class
MAUKX (Mutual Fund)
Pioneer Multi-Asset Ultrashort Income Fund
Payout Change
Pending
Price as of:
$9.68
+0.0
+0.0%
primary theme
U.S. Ultrashort Bond Duration
share class
MAUKX (Mutual Fund)
Pioneer Multi-Asset Ultrashort Income Fund
Payout Change
Pending
Price as of:
$9.68
+0.0
+0.0%
primary theme
U.S. Ultrashort Bond Duration
share class
Name
As of 12/12/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
6.8%
1 yr return
6.9%
3 Yr Avg Return
4.8%
5 Yr Avg Return
3.1%
Net Assets
$6.42 B
Holdings in Top 10
13.9%
52 WEEK LOW AND HIGH
$9.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.37%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 52.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/12/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
MAUKX - Profile
Distributions
- YTD Total Return 6.8%
- 3 Yr Annualized Total Return 4.8%
- 5 Yr Annualized Total Return 3.1%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.20%
- Dividend Yield 5.9%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NamePioneer Multi-Asset Ultrashort Income Fund
-
Fund Family NameThe Pioneer Funds
-
Inception DateMay 02, 2011
-
Shares OutstandingN/A
-
Share ClassK
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJonathan Sharkey
Fund Description
Normally, the fund invests at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes) in floating rate instruments of U.S. and non-U.S. issuers, including: mortgage-backed and asset-backed securities; senior secured loans (“senior loans”) and second lien or other subordinated or unsecured loans; debt issued by banks and other corporate, governmental and non-governmental entities; corporate bonds; insurance-linked securities; and preferred stock. The fund may invest in floating rate instruments of issuers in any industry or market sector. The fund also considers as floating rate instruments, and the fund may invest without limit in, adjustable rate securities, fixed rate securities with durations of less than or equal to one year, securities of other investment companies (including mutual funds, exchange-traded funds and closed-end funds) that invest primarily in floating rate instruments, and fixed rate securities with respect to which the fund has entered into derivative instruments to effectively convert the fixed rate interest payments into floating rate interest payments. The fund considers these investments as economic equivalents of floating rate instruments. The fund also may invest in other derivative instruments that provide exposure to floating rate instruments or have similar economic characteristics for purposes of satisfying the 80% requirement.The fund does not have a targeted maturity range for its portfolio. The fund may invest in securities of any maturity. The maturity of a fixed income security is a measure of the time remaining until final payment on the security is due.Under normal circumstances, the fund’s average portfolio duration will be less than two years. Duration seeks to measure the price sensitivity of a fixed income security to changes in interest rates. If the fund’s average portfolio duration exceeds two years, the fund will take action to bring it within its expected range within a reasonable period of time. Unlike maturity, duration takes into account interest payments that occur throughout the course of holding the bond. The longer a portfolio’s duration, the more sensitive it will be to changes in interest rates. For example, if the fund has a two year duration, then all other things being equal, the fund will decrease in value by two percent if interest rates rise one percent. The assumptions that are made about a security’s features and options when calculating duration may prove to be incorrect. Duration is calculated by the adviser, is not an exact measurement and may not reliably predict the fund’s or a particular security’s price sensitivity to changes in yield or interest rates.The fund may invest up to 20% of its net assets in debt securities that are rated below investment grade (debt securities rated below investment grade are commonly referred to as “junk bonds”) or are unrated but determined by the fund’s investment adviser to be of equivalent credit quality, and those that are in default or in bankruptcy. The fund does not have a policy of maintaining a specific average credit quality of its portfolio.The fund may invest up to 35% of its total assets in debt securities of non-U.S. issuers, including emerging market issuers. The fund does not currently intend to invest more than 25% of its total assets in any one non-U.S. country.The fund may invest a substantial portion of its assets in asset-backed securities and mortgage-related securities, including credit risk transfer securities, and commercial mortgage-backed securities, collateralized mortgage obligations (CMOs) and other mortgage-related securities issued by private issuers.The fund's investments in mortgage-related securities may include instruments, the underlying assets of which allow for balloon payments (where a substantial portion of a mortgage loan balance is paid at maturity, which can shorten the average life of the mortgage-backed instrument) or negative amortization payments (where as a result of a payment cap, payments on a mortgage loan are less than the amount of principal and interest owed, with excess amounts added to the outstanding principal balance, which can extend the average life of the mortgage-backed instrument).In addition to its investments in floating rate instruments, the fund also may invest in other securities, including debt of U.S. and non-U.S. governmental, corporate and other non-governmental issuers; insurance-linked securities that may include collateralized reinsurance, industry loss warranties and quota shares; convertible securities; municipal bonds; bonds not paying current income; bonds that do not make regular interest payments; zero coupon securities; securities of other investment companies (including mutual funds, exchange traded funds and closed-end funds); money market instruments; and other short-term investments, including cash and cash equivalents, certificates of deposit, repurchase agreements maturing in one week or less and bankers’ acceptances. The fund may receive debt securities or equity securities as a result of the general restructuring of the debt of an issuer, the restructuring of a floating rate loan, or as part of a package of securities acquired with a loan.The fund may, but is not required to, use derivatives, such as credit default swaps. The fund may use derivatives for a variety of purposes, including: in an attempt to hedge against adverse changes in the market price of securities, interest rates or currency exchange rates; as a substitute for purchasing or selling securities; to attempt to increase the fund’s return as a non-hedging strategy that may be considered speculative; to manage portfolio characteristics; and as a cash flow management technique. The fund may invest without limit in derivative instruments. However, the fund may choose not to make use of derivatives for a variety of reasons, and any use may be limited by applicable law and regulations. The fund may hold cash or other short-term investments.The fund's investments may have fixed or variable principal payments and all types of interest rate and dividend payment and reset terms, including fixed rate, adjustable rate, floating rate, contingent, deferred, payment in kind and auction rate features.The fund may invest in equity securities as a consequence of holding debt of the same issuer, when the adviser believes they offer the potential for capital gains or for other portfolio management purposes, although equity securities may not pay dividends or contribute to achieving the fund’s investment objective of a high level of current income.The adviser considers both broad economic and issuer specific factors in selecting a portfolio designed to achieve the fund's investment objective. In assessing the appropriate duration, rating, sector and country weightings of the fund’s portfolio, the adviser considers a variety of factors that are expected to influence economic activity and interest rates. These factors include fundamental economic indicators, such as the rates of economic growth and inflation, Federal Reserve monetary policy, and the relative value of the U.S. dollar compared to other currencies. Once the adviser determines the preferable portfolio characteristics, the adviser selects individual securities based upon the terms of the securities (such as yields compared to U.S. Treasuries or comparable issues), liquidity, credit quality, and sector and issuer diversification. The adviser also employs fundamental quantitative and qualitative research to assess an issuer's credit quality, taking into account financial condition and profitability, future capital needs, potential for change in rating, industry outlook, the competitive environment and management capabilities. The adviser may sell a portfolio security when it believes the security no longer will contribute to meeting the fund’s investment objective. The adviser makes that determination based on the same criteria it uses to select portfolio securities.The adviser integrates environmental, social and corporate governance (ESG) considerations into its investment research process by evaluating the business models and practices of issuers and their ESG-related risks. The adviser believes ESG analysis is a meaningful facet of fundamental research, the process of evaluating an issuer based on its financial position, business operations, competitive standing and management. This process considers ESG information, where available, in assessing an investment’s performance potential. The adviser generally considers ESG information in the context of an issuer’s respective sector or industry. The adviser may consider ESG ratings provided by third parties or internal sources, as well as issuer disclosures and public information, in evaluating issuers. ESG considerations are not a primary focus of the fund, and the weight given by the adviser to ESG considerations in making investment decisions will vary and, for any specific decision, they may be given little or no weight. Notwithstanding the foregoing, the adviser generally will not invest fund assets in companies engaged in the production, sale, storage of, or providing services for, certain controversial weapons, including chemical, biological and depleted uranium weapons and certain antipersonnel mines and clusterbombs.
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MAUKX - Performance
Return Ranking - Trailing
| Period | MAUKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.8% | 0.0% | 8.6% | 5.66% |
| 1 Yr | 6.9% | 1.0% | 9.2% | 7.55% |
| 3 Yr | 4.8%* | -0.9% | 7.1% | 4.90% |
| 5 Yr | 3.1%* | -0.8% | 4.4% | 6.84% |
| 10 Yr | 2.5%* | -4.1% | 27.9% | 11.57% |
* Annualized
Return Ranking - Calendar
| Period | MAUKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.5% | -2.3% | 4.3% | 35.38% |
| 2022 | -2.1% | -6.5% | 0.5% | 51.71% |
| 2021 | 0.2% | -2.1% | 0.3% | 3.52% |
| 2020 | -2.4% | -3.1% | 1.8% | 96.86% |
| 2019 | 0.4% | -1.2% | 6.1% | 56.91% |
Total Return Ranking - Trailing
| Period | MAUKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.8% | 0.0% | 8.6% | 5.66% |
| 1 Yr | 6.9% | 1.0% | 9.2% | 7.55% |
| 3 Yr | 4.8%* | -0.9% | 7.1% | 4.90% |
| 5 Yr | 3.1%* | -0.8% | 4.4% | 6.84% |
| 10 Yr | 2.5%* | -4.1% | 27.9% | 11.57% |
* Annualized
Total Return Ranking - Calendar
| Period | MAUKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.1% | 0.8% | 12.1% | 5.66% |
| 2022 | 0.8% | -5.1% | 2.5% | 20.98% |
| 2021 | 1.8% | -2.1% | 14.5% | 4.02% |
| 2020 | -0.2% | -1.0% | 3.6% | 96.34% |
| 2019 | 3.5% | 0.3% | 9.6% | 23.76% |
NAV & Total Return History
MAUKX - Holdings
Concentration Analysis
| MAUKX | Category Low | Category High | MAUKX % Rank | |
|---|---|---|---|---|
| Net Assets | 6.42 B | 26.6 K | 22.6 B | 18.40% |
| Number of Holdings | 1097 | 2 | 1258 | 4.25% |
| Net Assets in Top 10 | 870 M | 27.7 K | 22.7 B | 21.70% |
| Weighting of Top 10 | 13.89% | 6.3% | 159.6% | 82.08% |
Top 10 Holdings
- Dreyfus Government Cash Management 3.44%
- BASKET COLLAREAL US TRI PARTY 3.20%
- United States Treasury Bill 1.83%
- United States Treasury Bill 1.60%
- BASKET COLLAREAL US TRI PARTY 0.80%
- Prudential Funding Corp 0.72%
- BASKET COLLAREAL US TRI PARTY 0.69%
- Fannie Mae or Freddie Mac 0.62%
- BASKET COLLAREAL US TRI PARTY 0.50%
Asset Allocation
| Weighting | Return Low | Return High | MAUKX % Rank | |
|---|---|---|---|---|
| Bonds | 73.24% | 0.00% | 129.63% | 66.04% |
| Other | 23.84% | -13.48% | 99.96% | 15.09% |
| Convertible Bonds | 3.52% | 0.00% | 15.25% | 45.02% |
| Cash | 3.44% | 0.00% | 112.72% | 67.45% |
| Stocks | 0.00% | 0.00% | 97.16% | 38.68% |
| Preferred Stocks | 0.00% | 0.00% | 1.02% | 24.53% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MAUKX % Rank | |
|---|---|---|---|---|
| Securitized | 49.89% | 0.00% | 100.00% | 19.43% |
| Corporate | 34.02% | 0.00% | 99.91% | 61.61% |
| Cash & Equivalents | 3.44% | 0.00% | 112.72% | 61.79% |
| Government | 1.10% | 0.00% | 100.00% | 56.40% |
| Municipal | 0.00% | 0.00% | 70.39% | 58.77% |
| Derivative | 0.00% | -13.48% | 16.56% | 80.19% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MAUKX % Rank | |
|---|---|---|---|---|
| US | 73.24% | 0.00% | 129.63% | 65.57% |
| Non US | 0.00% | 0.00% | 20.18% | 34.43% |
MAUKX - Expenses
Operational Fees
| MAUKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.37% | 0.08% | 29.63% | 67.94% |
| Management Fee | 0.31% | 0.00% | 1.19% | 74.06% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 7.32% |
| Administrative Fee | N/A | 0.01% | 0.40% | N/A |
Sales Fees
| MAUKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.50% | 5.75% | N/A |
| Deferred Load | N/A | 0.25% | 1.00% | N/A |
Trading Fees
| MAUKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.00% | 1.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| MAUKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 52.00% | 0.00% | 336.00% | 28.09% |
MAUKX - Distributions
Dividend Yield Analysis
| MAUKX | Category Low | Category High | MAUKX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.85% | 0.00% | 8.76% | 2.83% |
Dividend Distribution Analysis
| MAUKX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| MAUKX | Category Low | Category High | MAUKX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.20% | -1.30% | 14.86% | 6.86% |
Capital Gain Distribution Analysis
| MAUKX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 30, 2024 | $0.047 | OrdinaryDividend |
| Oct 31, 2024 | $0.049 | OrdinaryDividend |
| Sep 30, 2024 | $0.049 | OrdinaryDividend |
| Aug 31, 2024 | $0.050 | OrdinaryDividend |
| Jul 31, 2024 | $0.050 | OrdinaryDividend |
| Apr 30, 2024 | $0.050 | OrdinaryDividend |
| Mar 28, 2024 | $0.052 | OrdinaryDividend |
| Feb 29, 2024 | $0.053 | OrdinaryDividend |
| Jan 31, 2024 | $0.053 | OrdinaryDividend |
| Dec 29, 2023 | $0.053 | OrdinaryDividend |
| Nov 30, 2023 | $0.053 | OrdinaryDividend |
| Oct 31, 2023 | $0.052 | OrdinaryDividend |
| Sep 29, 2023 | $0.052 | OrdinaryDividend |
| Aug 31, 2023 | $0.050 | OrdinaryDividend |
| Jul 31, 2023 | $0.049 | OrdinaryDividend |
| Jun 30, 2023 | $0.045 | OrdinaryDividend |
| May 31, 2023 | $0.044 | OrdinaryDividend |
| Apr 28, 2023 | $0.044 | OrdinaryDividend |
| Mar 31, 2023 | $0.044 | OrdinaryDividend |
| Feb 28, 2023 | $0.041 | OrdinaryDividend |
| Jan 31, 2023 | $0.039 | OrdinaryDividend |
| Dec 30, 2022 | $0.039 | OrdinaryDividend |
| Nov 30, 2022 | $0.038 | OrdinaryDividend |
| Oct 31, 2022 | $0.032 | OrdinaryDividend |
| Sep 30, 2022 | $0.030 | OrdinaryDividend |
| Aug 31, 2022 | $0.022 | OrdinaryDividend |
| Jul 29, 2022 | $0.021 | OrdinaryDividend |
| Jun 30, 2022 | $0.017 | OrdinaryDividend |
| May 31, 2022 | $0.014 | OrdinaryDividend |
| Apr 29, 2022 | $0.012 | OrdinaryDividend |
| Mar 31, 2022 | $0.012 | OrdinaryDividend |
| Feb 28, 2022 | $0.011 | OrdinaryDividend |
| Jan 31, 2022 | $0.011 | OrdinaryDividend |
| Dec 31, 2021 | $0.011 | OrdinaryDividend |
| Nov 30, 2021 | $0.012 | OrdinaryDividend |
| Oct 29, 2021 | $0.011 | OrdinaryDividend |
| Sep 30, 2021 | $0.012 | OrdinaryDividend |
| Aug 31, 2021 | $0.012 | OrdinaryDividend |
| Jul 30, 2021 | $0.012 | OrdinaryDividend |
| Jun 30, 2021 | $0.012 | OrdinaryDividend |
| May 28, 2021 | $0.012 | OrdinaryDividend |
| Apr 30, 2021 | $0.012 | OrdinaryDividend |
| Mar 31, 2021 | $0.012 | OrdinaryDividend |
| Feb 26, 2021 | $0.012 | OrdinaryDividend |
| Jan 29, 2021 | $0.012 | OrdinaryDividend |
| Dec 31, 2020 | $0.012 | OrdinaryDividend |
| Nov 30, 2020 | $0.012 | OrdinaryDividend |
| Oct 30, 2020 | $0.012 | OrdinaryDividend |
| Sep 30, 2020 | $0.012 | OrdinaryDividend |
| Aug 31, 2020 | $0.014 | OrdinaryDividend |
| Jul 31, 2020 | $0.014 | OrdinaryDividend |
| Jun 30, 2020 | $0.016 | OrdinaryDividend |
| May 29, 2020 | $0.018 | OrdinaryDividend |
| Apr 30, 2020 | $0.019 | OrdinaryDividend |
| Mar 31, 2020 | $0.021 | OrdinaryDividend |
| Feb 28, 2020 | $0.022 | OrdinaryDividend |
| Jan 31, 2020 | $0.023 | OrdinaryDividend |
| Dec 31, 2019 | $0.024 | OrdinaryDividend |
| Dec 26, 2019 | $0.003 | Extra |
| Nov 29, 2019 | $0.024 | OrdinaryDividend |
| Oct 31, 2019 | $0.026 | OrdinaryDividend |
| Sep 30, 2019 | $0.026 | OrdinaryDividend |
| Aug 30, 2019 | $0.026 | OrdinaryDividend |
| Jul 31, 2019 | $0.026 | OrdinaryDividend |
| Dec 26, 2018 | $0.018 | ExtraDividend |
MAUKX - Fund Manager Analysis
Managers
Jonathan Sharkey
Start Date
Tenure
Tenure Rank
Apr 29, 2011
11.1
11.1%
Sharkey is a vice president, joined Pioneer in August 2006. From March 2004 to August 2006, he was employed by Putnam Investments as a corporate bond and leveraged loan analyst. Prior to that, Sharkey was a principal and leveraged loan analyst at Cypress Tree Investments.
Nicolas Pauwels
Start Date
Tenure
Tenure Rank
Jun 08, 2018
3.98
4.0%
Mr. Pauwels, Vice President of Amundi Pioneer, joined Amundi Pioneer in 2006.
Noah Funderburk
Start Date
Tenure
Tenure Rank
Jun 08, 2018
3.98
4.0%
Noah Funderburk is a Vice President, Portfolio Manager, and member of the Securitized Assets team at Amundi Pioneer. Based in Boston, he is responsible for the portfolio management of securitized credit strategies. He specializes in non-agency residential mortgage-backed securities and emerging sectors such as agency credit risk transfer securities and single family rental securities.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 32.44 | 6.52 | 0.13 |
